ILZSG Recorded Deficit Global Refined Zinc Market

SEATTLE (Scrap Monster): The latest monthly statistics published by the International Lead and Zinc Study Group (ILZSG) indicates that global refined zinc market ended in deficit by 13kt over the first four months of 2022.

During the first four months of the current year, global zinc mine production recorded modest growth by 0.9% upon comparison with the corresponding period a year before. The zinc mine output witnessed considerable increase in Australia, China, India, Kazakhstan, Mexico, Turkey and the United Statesthat were partially balanced by reduced output in Brazil, Ireland, Peru and Burkina Faso.

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The refined zinc metal production during Jan-Apr ’22 totalled 4.535 million tonnes, marginally lower by 2.2% when compared with the 4.639 million tonnes a year before. The sharp rise in electricity prices has negatively impacted production at several European smelters, which resulted in lower production by the region. The production witnessed decline in China, Brazil and Canada too.

The marginal fall of 0.2% in global usage of refined zinc metal was mainly on account of reduced usage in countries such as China, France, India, Japan and Ukraine. The decline in these countries was more or less offset by rises in Italy, the Republic of Korea and Turkey, ILZSG report said.

The monthly global zinc mine output totalled 1.033 million tonnes in April 2022. The refined zinc metal production totalled 1.159 million tonnes, whereas the usage totalled 1.148 million tonnes during the month.